What ESDC must do now to make Atlantic Yards work for Brooklyn
Construction of the Barclays Center arena is moving ahead, but the completion of Phase I and all of Phase II of the Atlantic Yards project risks being significantly delayed. Sadly, the promises of jobs, economic vitality for the area, income for the City of New York, affordable housing, and open space all seem unlikely to be realized for decades, if not generations.
BrooklynSpeaks and Develop Don’t Destroy Brooklyn want successful development of the Atlantic Yards site. We want what the State and City want: the economic development, the jobs, and the public benefits that a healthy development can provide—not in the 25 years now understood by all as being likely, but within the next few years as needed.
The project’s present path won’t lead us there. Although economic conditions may be discouraging for development, it is the project plan itself that is the constraint. Conceived at a time when financing was readily available and the market was ripe for a large new development, the project was planned from west to east, merging the difficult and expensive site development with the easy. As a result, the project plan has burdened what is feasible with that which has become infeasible, and risks bringing development to a halt. The project’s dependence on luxury housing hampers forward movement and adds exposure to market fluctuations that might otherwise be avoided.
In most ESDC projects, flexibility and managing risk are part of the plan. Without altering the intent or spirit of the Atlantic Yards project, ESDC should now consider pragmatic changes that will foster success and accelerate its benefits.
- Build first on currently developable parcels, deferring the costly Vanderbilt Yards platform.
- Develop affordable housing in the manner and context of recent successes nearby.
- Open the development to additional teams in order to distribute the investment, the risk and the total work effort.
- Bring the community and its elected representatives to the table so we can all work together and win.